Spotify today provided more details on how it plans to monetize its investment in podcasts. The company said that it is launching a new audio advertising marketplace, the Spotify Audience Network, which allows advertisers to anchor Spotify’s own originals and exclusives as well as anchor megaphone and construction equipment, and through its ad-supported music via podcasts Will allow the audience to reach. one place. The company also said it plans to offer podcasts on its self-service advertising platform, Spotify Ad Studio, which starts in a beta testing phase in the US with Spotify originals and adjectives.
It will expand to include third-party podcasts in the future, the company noted today during its live online event, “Stream On”.
Currently, Spotify Ad Studio is being used by advertisers in 22 markets since its 2017 launch to reach Spotify music listeners with both audio and video ads. Spotify said the service is its fastest-growing procurement channel, but has not provided specific figures to expand that growth.
However, the big news on the advertising side was the launch of the new audio advertising marketplace, Spotify Audience Network. Similar to some of its other visionary announcements today, Spotify was light on the details of how the Spotify audience network would actually work – only saying it was “in the early stages of developing the offering”, and was able to share more Expects to happen. at a later date.
However, the company has positioned the marketplace as a “game changer”, especially for podcasters looking to make money from advertisements, as well as advertisers who want hundreds and millions of Spotify. Want to reach
The news follows an investigative report from The Verge earlier this year that found Spotify was the main sponsor for the anchor advertisement – despite promising to find a sponsor for its smaller podcasters. It now appears that Spotify has been in the process of tooling to build its advertising market and make good work on those promises, and in the meantime cannot prioritize advertisers.
Spotify also revealed today how its recent acquisition of the megaphone allowed it to scale its Streaming Aid Insertion (SAI) technology to publishers in early 2020 beyond its original and exclusive audio programs. Today, SAI is available in the US, Canada, Germany and the UK, and will expand to other new markets in 2021.
Since its launch, SAI has been releasing new features such as audience-based buying, native ad placement and reporting on creative performance. Later this year, Spotify says it will make SAI available to megaphone podcast publishers and “leading” anchor creators.
But anchor producers will no longer be limited to advertising to increase revenue.
Spotify also briefly noted, in a few months, will begin beta testing a new feature that will allow anchor creators to publish paid podcast content to Spotify aimed at their most dedicated fans, as ClearTips noted Told earlier.